Mapfre’s Latin American business doubles profits in 2005

Investment begins to pay off for Spanish insurer • Venezuelan premiums up • Colombian earnings surge 201% in 2005

Mapfre America’s contribution to Mapfre System’s written premium income amounted to €1.66bn (US$1.98bn) last year, 28.4% more than in 2004. The Brazilian market generated the largest premium income in the region with €434.6mn, followed by Venezuela with €255.4mn and Puerto Rico with €254.3mn.